Introduction
In most cases, many challenges are faced by the majority of businesses across the global world. These are the most common factors that are leading to the closure of several companies across the global world. In most cases, several cases have been reported worldwide, dictating the closure of some businesses because they face several challenges per unit of time. When it comes to most successful companies, there are also several challenges that these particular businesses face at any given time. This includes the fact that most successful companies have a plan through which they survive at any given time. This consists of the development of the projects that will be accompanied by several changes implemented in the company setting. Once a company has experienced several issues, there is a need for the company to lay down the plan through which these particular issues will be addressed appropriately. Some challenges are faced by the business, especially when they are carrying out the change implementation process.
Most companies experience several challenges, especially when implementing change per unit of time(Kanojia, 2022). These are the most common and severe moments that most companies need to handle since there is a complete expression of the business challenges. Therefore, companies or businesses face several challenges when they bring back changes in the organization. Throughout this paper, we are therefore going to major our point of focus on the case study, which will help us analyze various issues that are experienced in the organization setting and, more so, the development of the change plan in the organization and the more so we focus on the challenges that face the organization when they are on the process of expressing change at any given time.
Company background
Based on the case study that has been provided, the company of interest is the Punjab National Bank. This company has enhanced as one of the most common companies that offer financial services to most individuals and, more so, businesses across the global world. PNB is a banking business system. Therefore, most of the services provided in this banking system are based on financial analysis. This involves the provision of banking services to the majority of individuals across the global world. Also, the bank can provide various loans and services to individuals and, more so, the business setting. One of the most common ways this bank came into success is by offering good customer service and, more so, personal individuals. This made the company have a long-lasting profit that made it easy to spend more and more.
Issues
Punjab National Bank has experienced several issues at a given time. The most common problem presented in the case is the need for more finance for the company to carry out the trading process to enhance its growth. This was mainly experienced in 1988 when most of the companies that were the main competitors indicated a high increase per unit of time following the research conducted in India. In most cases, some of the primary challenges have been experienced by the organization based on the issue to do with the financial flow. Remember, one of the most common activities that the PNB Company carries out is the provision of loans rendered to most individuals across the entire country. Banking services are also incorporated into this company. Due to the decrease in the financial level of this business, the business has therefore experienced a high level of challenge (Mustafa, 2017). There are a significant number of customers who are found to avoid this company because there need to be more services that are provided in the company system. This made most customers consider trading in other companies that act as the main competitor of the PNB Company. Due to this, the company has experienced many challenges per unit of time. There is, therefore, a need for the change that has been posed in the PNB Company. The change will therefore include the transformation of all the challenges experienced in this company. By doing so, the company will be in a position to fight the challenges that are experienced. Remember, if there is any issue that is experienced in the company system, there is the need for the company to take the initiative to bring back all the activities that are carried out back to normal. This involves the prevention of the challenges that are being experienced by the development of a basic plan that will enable the elimination of all the challenges that are faced per unit of time. When it comes to the process of PNB bank issues, there is, therefore, the need for the company to change per unit of time. This will involve the elimination of the financial challenges that are faced in the banking system.
Several factors made it impossible for the PNB Company to bring about the change per unit of time. One of the most common factors experienced is the need for more capital or finance in the company system. This involves the fact that the company was in error and that a low amount of money could be used to drive all the services carried out in the PNB bank. In most cases, a number of customers are fond of repelling the company. This factor has made it impossible for the company to meet its target of making more money for capital regeneration. Suppose the company has several customers who can transact in the company system. In that case, the company could have made a tremendous positive index toward solving its problem. The other factor that has been hindering the PNB bank from changing the process is that most of the workers found in the company need to give out the best of their services. This means that most workers must be fully equipped with the skills to handle the customers per unit of time (Krishnamoorthy, 2017). In these cases, most customers are found avoiding trading with the company, which makes the company continue experiencing the same problem. These two are the most common challenges the PNB Company faces, especially now that it is in times of transformation. There are some necessary procedures that the company should follow at any given time that will allow it to eliminate all the challenges experienced in the company per unit of time.
Evaluation of issues
The most common and dominant issue facing PNB banks is insufficient funds that could have been used in the banking system to carry out all the activities necessary in the bank. This has been identified in the case study because the shares the company owns per unit of time were very low. In this case, the company has therefore been able to experience many challenges involving finance. For the company to solve this case, there is a need for the company to address one main activity. In this case, the activity that should be incorporated is changing the organization’s operation. This is done through the process of training the employees who are found in the workplace. Due to proper training of the employees, they will ultimately acquire the proper skills and, more so, the working ethics in the business setting. Due to this fact, the company will be able to regain financial stability at any given time. It will therefore be able to carry out its activities in a prose manner (Dogra, 2019). Proper treatment of the customers by the employees will make the company attract many employees per unit of time. This will map the improvement in the company’s shares due to the increased trading activity. The company should also consider training the employers to handle the clients. This will enable the company to have a continuous flow of relationships between employers and customers. When the PNB address this issue, the other problems will be solved immediately. This will therefore make it possible for the company to stand at any given time.
Conclusions and recommendation
In most business settings, several issues are faced by the business setting. These issues hurt the running of the business setting. In most cases, some challenges even affect the business operation activities. From our case, we have analyzed the case of PNB company it was posed from the case; the company has been experiencing the issue of the low amount of finance that can be appropriately utilized, mainly in cases to do with offering banking services to customers. The company’s low number of shares has been facilitated by several factors, including the fact that the company employees need to offer good customer service. This makes most customers flee from the company making the company fail to expand at any given time. Therefore, the PNB company needed to answer the main problem by bringing in new changes that would transform the company. This includes the fact that the company has decided to engage some experts in tanning all the employees on how to handle customers. This has been one of the most common ways the company has returned the situation to routine. As a point of recommendation, the company should also properly plan the activities carried out in the company system. This will help the company to have a system whereby there is a prose manner through which various activities are carried out. This will protect the company from incurring unnecessary losses, which will ultimately make the company suffer. Proper planning will make the PNB Company save and overcome the main challenge.
References
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